New Delhi: The government is taking steps in direction of increasing employee stake in the Public Sector Units (PSUs). The disinvestment department is planning to sell 5 percent of the stocks to the employees at a discount of five percent. The discount will be given on the allocation price of OFS. Till now, government used to take auction route for disinvestment which did not leave any scope for employees to buy stocks.

Sebi has already given approval to the proposal of disinvestment department. Under the proposal, the employees of companies where disinvestment has been done since 2012 will also be given option to buy stake. The department will initiate the process with employees of Nalco, Oil India and Rashtriya Chemical and Fertilizer. Further it will also be implemented in SAIL, MMTC and 10 other PSUs. Under the scheme, demat account holder employee will be able to apply for minimum 10 shares and maximum up to the shares worth Rs 2,00,000.

Under the proposal, all PSU employees will be eligible to avail the facility. Disinvestment department furnish details of companies to the Sebi. The share sale for PSU employees will continue for seven working days. Employees will have to pay at the time of application. JPN/Bureau